Buyer's market in Asia for property insurance
Rising competition and higher capacity blamed for rate pressure
[SINGAPORE] Growing competition and insurers' higher capacity for underwriting property and casualty insurance mean that Asian rates continue to ease, despite the region being prone to natural disasters.
This is creating a challenge for insurers in a world where interest income continues to be low, insurers said.
"The premium pool in Asia is not growing as fast as insurers' investment in Asia," Zurich Insurance Company's Singapore CEO, Jonathan Rake, told The Business Times recently.
BT is now on Telegram!
For daily updates on weekdays and specially selected content for the weekend. Subscribe to t.me/BizTimes
New Articles
Singapore top recipient of Q1 cross-border investments in Apac: Knight Frank
Dasin Retail Trust’s trustee-manager chairman, directors deny allegations of misconduct
Keppel Infrastructure Trust posts 29.1% lower Q1 distributable income
Bitcoin faces worst month since FTX crash with ETF demand cooling
AIA launches wealth centre targeting high-net-worth clients
Prudential’s Q1 new business profit down 2% at S$743 million